The International Monetary Fund confirmed its forecast for a fall in real gross domestic product of Ukraine in 2022 by 35% and inflation by 30%. However, at the same time, the IMF warned that they would not make forecasts for the next five years.. This is stated in the updated World Economic Outlook (WEO).

“For Ukraine, all forecasts for 2022-2027, except for forecasts of real GDP and consumer prices, have been reduced due to an extremely high degree of uncertainty. Real GDP and consumer prices are projected until 2022,” the forecast says..

According to IMF forecasts, in Russia the fall of the economy this year will be 3.4%, and next year it will slow down to 2.3%..

“The contraction of the Russian economy is less severe than previously forecast, reflecting the resilience of crude oil exports and domestic demand due to strong support for fiscal and monetary policy and the restoration of confidence in the financial system,” the authors of the report note..

In general, the IMF left unchanged its July forecast for global economic growth in 2022 - 3.2% (in January it was expected to grow by 4.4%, in April - by 3.

6%). By 2023, the estimate has been reduced to 2.7% from 2.9% in July and 3.6% in April (in January, the IMF predicted global GDP growth of 3.8%).

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Earlier it was reported that IMF representatives want to meet with the Ukrainian government on October 17 to discuss Ukraine's budget plans and monetary policy.. Such discussions should take place after high-level meetings during the autumn meetings of the IMF and the World Bank..